"Shark Tank" host Mark Cuban revealed that he has been holding cryptocurrencies for years, without ever diluting the holdings.
What Happened: The Dallas Mavericks owner let out multiple tweets on cryptocurrency-related topics Tuesday and revealed that he was a long-term holder of cryptocurrency in a social-media interaction with Gokhshtein Media founder David Gokhshtein.
The billionaire touched upon topics ranging from decentralized finance (DeFi), supply and demand, and the cost of cryptocurrency transactions.
Cuban had a back and forth with Gemini co-founder Tyler Winklevoss on monetary supply during which the latter brought up the value of Cuban’s basketball team.
Cuban credited Winklevoss for generating demand for Bitcoin (BTC).
"My only mistake on Bitcoin in particular was underestimating your ability, and you get credit for this, to create a narrative and generate demand for it," the billionaire said. "You are the King of Get Long and Get Loud for BTC and that's not a bad thing.”
Why It Matters: The famed investor joked last week that he would run for the office of president of the United States if BTC hit $1 million.
Cuban also warned potential investors not to pile on debt to invest in Bitcoin and cautioned there was a 99% chance “you will lose EVERYTHING. Personal disaster stories are built on leverage.”
